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HASAN ALI
MARKOLEGAL

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The GST (Goods and Service Tax) is a consolidated indirect tax policy that includes VAT, CST, Service Tax, Central Excise Duty, Entertainment Tax, and other taxes. It became effective on July 1, 2017. Applicable across India since then.

In other words, the GST (Products and Services Tax) is a tax on the provision of goods and services. The GST in India is a multi-stage, a destination-based tax levied on all value additions. The GST is a single domestic indirect tax law that applies across the board.

Each individual registered for GST is given a GSTIN (Goods and Services Tax Identification Number). It’s a 15-digit number that serves as a unique identifier. The Tax Identification Number, or TIN, has been replaced by the GSTIN. Firms who already have a TIN will be automatically assigned a GSTIN, unlike new enterprises required to register under the GST Act. Tax officials generally use the number to keep track of GST payments and due dates for registered persons under the GST Act.

Getting a GSTIN and registering for GST are both free of charge. Prior to the introduction of GST, all state VAT-registered traders were given a unique TIN number by the different state tax authorities; the GSTIN has replaced this. Businesses that register for GST are now given a GSTIN, which is a unique identifying number.

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HASAN ALI
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